PTFE gasket also called polytetrafluoroethylene gasket is a mechanical seal, which fills the space between joining surfaces of pipelining systems. The key properties that distinguishes the PTFE gasket such as, high melting temperature, low co-efficient of friction, high corrosion resistance, high resilience, longer product life, and significant insulation properties. This would help increase its value as a sealing material and makes it suitable in applications of various end-use industries such as energy, chemical & petrochemical, medical & pharmaceutical, and oil & gas. PTFE gaskets help in carrying out operations smoothly by decreasing vibration and providing a noise-free environment. They have a lower friction property and are highly resistive to acid, bases, and solvents.
COVID-19 scenario analysis :
COVID 19 Scenario
The COVID-19 has extremely affected the economy in the world in a negative wat, hence the PTFE gasket market also got affected abruptly and experienced a slowdown in the generation of revenue. There were strict regulations by governments of various countries, which caused reduction in demand for PTFE gaskets in the current scenario. Furthermore, industries are focusing on innovations during the lockdown situation, such that it could help gain attention of majority of the players during the forecast period.
Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis
The key factors affecting the industry include the growth in the industrial sector, which would help the industry propel in the coming years. The increase in the number of manufacturing industries in the different application areas such as oil & gas, chemicals, and medical & pharmaceuticals, would help the industry flourish in the next few years. The key companies are focusing on the research and development of the products, such that they capture greater revenue shares in the forecast period. Furthermore, there is an increase in the number of mergers and acquisition carried out by the key players, which would boost the revenue generation in the next coming years.
The global PTFE gasket market trends are as follows:
New product portfolios launched to boost the PTFE gasket market
The major companies are focusing on the up gradation according to the need in the market in the coming years. Furthermore, the major companies are bringing up the newer product lines which are the current demand posed by the major population, which would fuel the PTFE gasket market in the forecast period.
For instance, in February 2018, Garlock, a leading manufacturer of high-performance fluid sealing products, has announced the launch of GYLON EPIX. The patented next generation in PTFE gasketing features a hexagonal surface profile with superior compressibility and sealing for use in chemical processing environments.
GYLON EPIX will be available in one universal thickness of 3/32" (2.4mm) that combines the sealing and blowout resistance of a 1/16" (1.6mm) gasket with the compressibility and conformability of a 1/8" (3.2mm) gasket. It will be available in the same three materials as traditional GYLON products; fawn (silica filled PTFE), off-white (barium sulfate filled PTFE) and blue (aluminosilicate microsphere filled PTFE).
Surge in number of mergers and acquisitions to boost the PTFE gasket market
The boom in the demand for the PTFE gasket to be utilized for the untapped business, are the main arena focused by the key players, and hence are bringing up the advancements in the coming years. There is a boost in the number of mergers and acquisitions, which would help the industry propel in the coming years. For instance, Ausimont USA had made a pair of acquisitions that position it as the sole vertically integrated producer of micronized polytetrafluoroethylene (PTFE), according to the company. The purchases advance Ausimont's strategy of developing more specialized grades of PTFE.
The acquisitions, made in separate deals, were the Marshallton, Del., electron beam irradiation facility of Montell Corporation, and Belle Meade, N.J.-based CTSP Corporation, a processor of resins and coarse powders for customers in the high-end specialty chemicals industry. CTSP specializes in grinding, milling and micronizing chemical ingredients to precise specifications. The irradiation facility will merge into CTSP, which will operate as an autonomous subsidiary of Ausimont.
Key benefits of the report:
- This study presents the analytical depiction of the global PTFE gasket industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global PTFE gasket market share.
- The current market is quantitatively analyzed to highlight the global PTFE gasket market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global PTFE gasket market analysis based on competitive intensity and how the competition will take shape in coming years.
PTFE Gasket Market Report Highlights
Key Market Players
Nichias Corporation., Garlock Sealing Technologies, The Flexitallic Group Inc., ERIKS NV, Teadit, James Walker & Co., Freudenberg Sealing Technologies, Valqua Ltd., Henning Gasket & Seals, Inc., Frenzelit GmbH